Judgement

The Income Tax Appellate Tribunal (ITAT) Ahmedabad has upheld the addition of Rs. 1.5 crore as capital gains tax on a land sale, rejecting the assessee’s claims.

ITAT Ahmedabad Upholds Rs. 1.5 Crore Capital Gains Tax on Land Sale, Rejects Assessee's Appeal

The Tribunal also cited various judgements, including the decision of the Hon'ble Apex Court in the case of Pr. CIT v. Shapoorji Pallonji and Co. Ltd.[2022] 141 taxmann.com 509/288 Taxman 661, which held that the assessing officer could not make any addition just based on suspicion

Assessing Officer Cannot Make Addition u/s 68 Based Solely on Suspicion: ITAT

News

A Lucknow-led investigation has exposed a Rs. 368 crore GST fraud involving 122 fake companies operating across 19 Indian states.

Massive GST Evasion Network Uncovered: Fake Firms Operated Across 19 States

The ITAT upheld the tax department’s view that the assessee’s penny stock gains were bogus and confirmed the addition as unexplained income.

ITAT Confirms Rs. 1.88 Crore Addition for Fake Penny Stock Gains; Appeal Dismissed

The ITAT, Ahmedabad, has recently upheld the decision of the Principal Commissioner of Income Tax (PCIT) to revise the assessment order in a Foreign exchange loss claim case.

ITAT Upholds PCIT's Revision in Foreign Exchange Loss Claim Case

SC: Private Buses Can’t Ply on Notified Routes; Only State Transport Corporations Allowed; Court Urges UP & MP to Rework Transport Agreement

SC Bars Private Buses on Notified Inter-State Routes; Upholds State Transport Corporations’ Exclusive Rights

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